If you are in the mortgage business and near Scottsdale, AZ then you should already be registered and have this on your calendar. Why? Because where else are you going to get two days jam-packed with info to help your business? If you are a real estate agent or broker, you should strongly consider attending the Mortgage Tech Summit. Why? Because as a real estate agent, it is crucial for you … [Read more...]
Historical Mortgage Rate Chart: 30 Year Fixed Interest Loan

For whatever reason, people always seem to find these mortgage rate trend charts fascinating. Here is the historical mortgage rate trend chart for 30 year fixed loans from April 1971 through November 2011. Data is supplied by FreddieMac. Excel wizardry by yours truly. You are welcome to use this chart, all I ask is that you keep the credit box on the chart and link back here. When I … [Read more...]
Help for Underwater Homeowners in Arizona. New HARP / Making Home Affordable Rules

HARP - the Home Affordable Refinance Program - is undergoing some much needed revisions to its eligibility criteria. Previously the program allowed some homeowners to refinance their existing mortgages up to 125% of the home's value. For example, let's say you owe $200,000 on your mortgage. Due to the dramatic drop in home values across the Valley (generally), your home is now worth $140,000 … [Read more...]
Underwater on your mortgage in Phoenix? You need legal advice, not Realtor advice.
Owe more on your Phoenix home that it is worth? Welcome to the Underwater Club. It’s not a pleasant club to belong to, despite its massive size. If you bought a home, or refinanced an existing home, anytime circa 2005 and beyond you are quite likely a member of the Underwater Club. And you’ve got to be wondering what your options are. Foreclosure, short sale, loan modification, trustee sale, … [Read more...]
What is Buy and Bail, and should I do it?

First up, the standard disclaimer: I am in no way, shape or form an attorney or tax professional. And you should seek the advice of both if you are even remotely considering buying and bailing. “Buy and Bail” is the term commonly used when one purchases as new home and then “bails” on their existing home. Let’s say you, unfortunately, bought your home at the peak of the Phoenix real … [Read more...]











I'm Jay Thompson, and I have a little blogging problem... Welcome to The Phoenix Real Estate Guy, or "TPREG" as I fondly refer to it.